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Wednesday, November 9, 2016

Five gem and jewellery emporiums to be held in 2017

November
8, 2016

Five
gem and jewellery emporiums will be held in 2017, up from only one or two
events held

annually.
Three events will sell gem and jewelry lots in foreign currency while two will
be conducted using Myanmar currency, it is learnt from Myanmar Gems and
Jewellery Emporium Organising Committee.

“Normally,
only an event is held once or twice a year. Holding more events make the
merchants and brokers do well”, said U Myint Han, the chairman of the organizing
committee.

According
to Myanmar Gemstones Law, gemstones cannot be traded in the open market, which
makes the gemstone market dependent only on legal emporiums. Holding more
emporiums might help to reduce the black market trade of gems and precious
stones, officials said.

Holding
a chain of events during a single year will help to develop the market, said U Thaung
Tun, a gem and jewellery merchant.

Ministry
of Natural Resource and Environmental Conservation is drawing up plans to be
able to produce finished gems from the raw stones.